Frequently Asked Questions

How often will I get an appointment and how does covid effect that?

Our goal is to send every Advisor on at least one meeting per month. The good news is that, once billed for an appointment, no further billing takes place until that appointment takes place. Every appointment is confirmed and qualified by our call center supervisor. Any company could SAY they do that, but just to prove our point, check out the below recorded calls!

As the situation with COVID-19 continues to evolve, The Warton Group is here to help you “Create Great Meetings” with Plan Sponsors.  In light of the current environment, our highest priority is the health and well-being of all our clients and Plan Sponsors.

The Warton Group recently implemented technology to facilitate video/screen sharing meetings between you and a plan sponsor.  This will allow you to discuss and present your recommendations safely- without leaving your home or office!   This meeting can be handled anywhere you have access to the Internet.Here is a Video Meeting done during covid quarantine:

How Much Does it Cost?

The Warton Group’s marketing program is essentially a pay-as-you-go system. We know that marketing budgets can vary from firm to firm so we’ve developed a convenient monthly-billing plan based on the number of appointments that Advisors sit on each month.

What is the Closing Ratio?

Taking the soft-sell approach as opposed to a hard-sell approach is critical to winning business on cold-call appointments. Historically the closing ratio has been around 25% when the correct approach is taken.

Why shouldn’t I hire my own callers to do the same thing?

This is something we get asked quite often and the simple answer is that anyone can hire callers or even do their own calling. Hiring, training, and most importantly, managing what callers are doing and saying to people is a time-consuming and expensive undertaking.

How long will I be committed to this program?

Clients can opt out of their agreements anytime after the first 60 days. Advisors remain in our referral network as long as they want.

What qualifications do I need?

Besides being a licensed financial advisor, we require that you have experience with 401k plan management. If you don’t currently manage any plans, but have worked with them in the past then that will work as well. Obviously you need to have a value add that you bring to the table along with really good relationship skills. If you are someone that is good at meeting with business owners and C level executives, and can establish a rapport with them, then you have one of the most important qualifications. Remember, it’s a relationship business and people will usually hire people they like and believe they can trust.

Would I be meeting with people who are unhappy with their current plan or advisor?

Sometimes yes. Sometimes no. One of the most glaring things that becomes apparent after speaking with so many plan sponsor companies, is that most people don’t know what they don’t know. Most plan sponsors lack the qualifications or expertise to properly assess a quality plan vs. a poorly established or managed plan. We start our conversation by conducting a survey which gives us a glimpse of the quality of their plan. The questions in the survey are related to administration of the plan, record keeping, and advisory services. Typical red flags are when a sponsor tell us they haven’t seen their advisor in a long time, or that there is no investment policy statement in place, or that their plan has NEVER BEEN REVIEWED BEFORE.

What happens if I go to an appointment, and even though you vetted it, I discover there is no way I will get their business for something beyond my control?

That question is better answered by one of our long term clients. Below is an excerpt from an email he sent to an advisor who was considering utilizing our services:

I’ve had a good experience with them, even to the point that they replaced a meeting no charge after it went very well, then I received a call from the CFO two weeks later to admit that the current plan advisor was a friend of the family that owned the business and handled their personal money. Terrible strategy for a $9MM plan with an IPS they hadn’t looked at in 8 years, pricing better suited to a $2.0MM plan, no fiduciary advice to mitigate their liability, and on and on….

Warton will work with you to define your target market, find appointments about 6-8 weeks in advance, confirm a few days in advance, and prep the contact to expect us to review the plan with an eye toward improvements in design, participation, policies and procedures to mitigate liability, targeted participant education, and always with our hoping we’ll earn the business. Your close ratio will obviously depend on your experience in the plan market, but Warton does what they say they will do for you. Good luck, and give me a call this afternoon if you have more questions.

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